Another opportunity to convert a Georgian house into a prestigious home will arise shortly when 47 Merrion Square, Dublin 2, goes for sale at €1.9 million through Turley Property Advisers. Several other similar freehold period buildings have been bought for the same purpose over the past two years following the collapse in prices.

In this case, the buyer will also get a three-storey mews house at the rear on Stephen’s Place as well as parking for up to eight cars via electric gates.

The four-storey over basement house has been occupied for almost 50 years by intellectual property attorneys Maclachlan and Donaldson who are relocating. It has an overall floor area of 604 sq m (6,500 sq ft) and, having been well maintained over the years, retains many of its period features, according to the selling agents.

Buyers looking for a considerably cheaper Georgian house also have the option of buying one through the same agents at 16 Mountjoy Square. The asking price of €180,000 is probably the lowest yet sought for a Georgian pile on the square. The house has been derelict for years and will require substantial refurbishment.